First Mid Bancshares (NASDAQ:FMBH) Posts Earnings Results, Beats Estimates By $0.12 EPS

First Mid Bancshares (NASDAQ:FMBH) announced its quarterly earnings results on Thursday. The bank reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.12, FiscalAI reports. First Mid Bancshares had a net margin of 20.87% and a return on equity of 11.55%. The business had revenue of $107.43 million during the quarter, compared to the consensus estimate of $108.47 million.

First Mid Bancshares Trading Down 1.4%

Shares of FMBH stock opened at $50.40 on Friday. First Mid Bancshares has a fifty-two week low of $34.15 and a fifty-two week high of $53.36. The stock has a market cap of $1.34 billion, a P/E ratio of 11.61 and a beta of 0.80. The business has a fifty day simple moving average of $49.97 and a 200-day simple moving average of $46.05. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.

First Mid Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be given a $0.26 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. First Mid Bancshares’s dividend payout ratio (DPR) is currently 25.81%.

First Mid Bancshares News Roundup

Here are the key news stories impacting First Mid Bancshares this week:

• Positive Sentiment: Q3 earnings exceeded expectations. First Mid reported adjusted earnings of $1.26 per share for the quarter ended September 30, up from $0.97 a year earlier and above analyst estimates of approximately $1.14-$1.15. The bank also posted a 10.86% return on equity and a 19.76% net margin. First Mid Bancshares Surpasses Q3 Earnings Estimates
• Positive Sentiment: Analyst price target increased. DA Davidson raised its target for FMBH from $53 to $56, implying potential upside from recent trading levels, although it maintained a neutral rating. DA Davidson First Mid Bancshares Ratings
• Positive Sentiment: Dividend maintained. First Mid declared a quarterly dividend of $0.26 per share, equal to $1.04 annually and an approximate 2.0% yield. The dividend is payable December 1 to shareholders of record November 16.
• Positive Sentiment: Expansion plans broaden the franchise. First Mid agreed to acquire Evergreen Bancshares, parent of American Bank of Freedom, in a stock-and-cash transaction. The deal is expected to expand its presence in the St. Louis region, along the I-70 corridor, in Illinois and in the greater Indianapolis market. First Mid Announces Evergreen Bancshares Acquisition
• Neutral Sentiment: Revenue slightly missed estimates. Quarterly revenue was $107.43 million versus the $108.47 million consensus, tempering the otherwise strong earnings beat. First Mid Bancshares Third-Quarter Results
• Neutral Sentiment: Acquisition execution remains a consideration. The Evergreen transaction could add scale and geographic reach, but investors will likely assess its purchase price, regulatory approval and integration costs before assigning greater value to the deal.

Wall Street Analysts Forecast Growth

FMBH has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of First Mid Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Keefe, Bruyette & Woods increased their target price on shares of First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a report on Monday, July 27th. DA Davidson increased their target price on shares of First Mid Bancshares from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Friday. Finally, Piper Sandler lifted their price target on shares of First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.12.

About First Mid Bancshares

First Mid Bancshares, Inc is a financial services holding company headquartered in Mattoon, Illinois. Through its principal subsidiary, First Mid Bank & Trust, N.A., the company provides banking and related financial services to individuals, families, farmers, businesses and governmental entities.

First Mid Bank & Trust offers deposit accounts, consumer and commercial lending, agricultural loans, mortgage services, treasury and cash-management services, online and mobile banking, and other traditional banking products.